Commitment to our communities is fundamental to our values. The Corporate Social Responsibility agenda is to inspire, challenge and empower our people to make a positive contribution to local communities.

Launched in April 2009 the KPMG Academy was developed as a separate line of service to utilize our professional and academic expertise and turn this knowledge into value for the benefit of our clients, our people and the society in general.

This publication looks at how the transposition of the AIFMD and UCITS IV EU Directives into Cyprus legislation will impact a Cyprus Investment Firm’s portfolio management business, and how such firms may beneficially adapt to the new regime.

This is to introduce the KPMG Tax Guide updated for 2014. The Tax Guide aims to provide a comprehensive introduction for clients and professionals on the main aspects of the Cyprus Tax System for non-resident investors and corporations.

The nature of the oil and gas industry is such that accounting for its activities presents many difficulties. Oil & Gas projects require significant upfront investment, and there is uncertainty over prospects.

Tax Services to the Real Estate Industry

KPMG in Cyprus has a specific group of tax professionals dedicated to providing tax services to the real estate industry. Our Real Estate Team has extensive knowledge and understanding of real estate assets, markets and operations relevant to real estate issues and can help you to tackle them regardless of whether these are Cyprus' or international taxation issues.

How we can help you:

Quality is the main driver for our services. We offer a full range of value-added services aimed at helping our clients to achieve their business objectives.

By working with clients to clearly understand their needs, to help find the proper approach and identify potential, our Real Estate Team is able to provide support in the following property related areas:

tax planning for the acquisition of real estate

tax planning for offshore construction projects

tax due diligence

post acquisition restructuring tax review of real estate companies

timing recognition of income and expenditure for tax purposes

allocation of costs to the initial value of investments

separation of assets after the completion of an investment process in order to supplement depreciation

tax implications of real estate financing

deductibility of financing costs

maximizing amount and timing of tax depreciation

tax classification of incentives granted to lessees by landlords

advice on VAT deductibility during the investment process

application of VAT rates and exemptions to the disposal of property

reducing VAT costs and increasing VAT recovery

reducing property taxes

tax recognition of revenues and costs in long-term construction projects

analysis of sale and purchase agreements relating to real estate and rental/leasing agreements from the tax perspective